Farmers will benefit from a partnership between Clinton Foundation and Visa, a global payments technology company which will enable them conduct business transactions digitally. The partnership by the two entities will connect individual farmers and cooperatives with financial institutions, retailers, processers, buyers and other producers consequently creating a digital payments ecosystem.
These connections aim at helping improve farmers’ financial security and empower them economically to make purchases with greater knowledge and ease.
The partnership announced Tuesday by the Clinton Foundation will consist of a two phase programme beginning with a pilot phase in Kayonza and Gatsibo Districts in the Eastern Province of Rwanda.
The support will involve engaging cooperatives in financial literacy training and access to Visa products through which they will receive and make value-chain payments.
“This will enable Clinton Development Initiative (CDI) and Visa to learn how to best understand the deeply felt and unmet needs of the farmers, which will inform scale-up efforts in the second phase. Coupled with in-depth impact analysis, the pilot will help lay the foundation on which CDI and Visa roll-out the most fitting financial services to CDI’s farmer network in Rwanda,” the foundation announced.
